Currently users who have purchased goods and services over the Internet are faced with few payment options. The credit card companies dominate the market, while the users pay high processing fees and shy away from making online payments for trust and security reasons. Digital cash has lower rates than credit card companies, but the adoption has been slow and there are no turnkey solutions still in place.
Some problems of the current methods include credit card fraud that deters users from using their credit card numbers on the web; high cost of processing that deters merchants from setting up eCommerce sites; and inability to buy items from multiple merchants with one payment transaction that makes the process cumbersome.